Investing in Fixer-Upper Houses

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Why You Should Invest in Fixer Upper Houses

If you are thinking about investing in real estate, I would like to suggest that you buy fixer-upper houses and rent them out.

I first began investing in 2002 when the economy was spiraling downward and my job was looking as shaky as the economy. My first purchase was a house repossessed by the VA. I rented out the house I had been living in and moved my family into the new house. We lived in it while we made repairs. Since then, I have focused on houses repossessed by banks, the VA, and HUD.

Since I began, my financial situation has improved dramatically. Now I have a steady flow of cash coming in each month, and the amount of equity I have in my houses is more than my wife and I ever imagined that we would have. If I lost my job now, it wouldn't be the end of the world. We could still get by pretty well on our real estate business alone.

In addition, we had never socked away much money into retirement accounts, but the money we have built up in our houses more than makes up for it (and is more secure than it would have been in stocks).

I encourage you to learn the skills necessary to start on the road to financial security. From my point of view, these skills include learning to: 1) purchase fix-up properties, 2) do your own repairs, 3) manage tenants. It takes time and effort, but like all good things, it is worth the effort. The more things you can learn to do yourself, without outside help, the better off you are. You will develop skills that will serve you well the rest of your life.

As Thomas Edison said, "Opportunity is missed by most people because it is dressed in overalls and looks like work."

View Terry's Investment Articles at Ezinearticles.com 

The 9 Best House Repair Books for Fixer-Upper Houses Investors
If I encounter a repair in a fixer-upper house that I have never done before, the books are my guides.
Six Guranteed Ways For Landlords to Lose Money and Have Terminator-Type Tenants
Follow these simple, time-tested principles to lose the most money and to get the worst the tenants.
Don't Sell Your House. Turn it into a Rental!
Instead selling you residence to purchase another home, a wiser option may be to turn it into a rental property.
Learn Fixer-Upper Skills, Part 2
Two ways to learn repair skills are: 1) reflect on past experiences and on persons who were good examples, and 2) put together your own repair book reference library.
The Low-Key Approach to Buying a House -- Negociate Lilke Detective Colombo
Make buying a house a win-win deal, rather than a win-lose scenario.
Learn Fixer-Upper Skills Part I
Two ways to learn the appropriate skills to repair fixer-upper houses are to 1) learn by doing, and 2) take community college classes
Why Investors Should Not Pay Down a House Mortgage
Put the odds in your favor, by letting time, and tenants, do the heavy lifting for you.
Fixer-Upper Rentals -- Recession-Proof Investing
In general, recession may be a good thing for fixer-upper investors. Recession can drive rental payments up, and drive housing prices down.

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by Fixemup

Terry Sprouse buys fixer-upper houses, repairs them and rents them out, in his spare time. (more)

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